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Search Results 0 to 31 of about 32 (some duplicates have been removed)
that we're having nowadays is the major drivers of our deficits nowadays are increasingly not on the discretionary side of the budget, but the non-discretionary side of the budget. there is no longer a place where they can make little fixes and kick the can down the road. there has been agreement on medicare, ned sai medicaid, andl security. it's a particular hot potato that neither side wants to touch. and saying that that's how we're going to solve our budget problems, and that's not going to work. >> after the high tide earlier in president obama's years in the white house, hasn't the deficit, which was huge when he came to office, been getting smaller. >> largely on the back--the sequester cuts which were a small but measurable reduction in over all spending, but also because of the fairly large tax hikes that have occurred under obamacare and under the fiscal cliff deal that they struck on new year's day of 2013. it raised taxes on higher income earners. it's been by extracting more from the american people and not by the government controlling it's out of control spe
to and was for surplus, what was the reason behind this is deficit and is it is inspected to continue? -- expected to continue? trade deficit was much larger than expected. that is the main cause for the current account balance deficit in october. the current account is not expected to continue in deficit. the weaker yen, that is pushing up energy costs. the trade deficit is expected to continue for the foreseeable future. even with the weaker yen, this'll push up export, but not enough to counter the effect of the higher cost of oil and gas. we are seeing an increase of consumer goods and the materials for housing and consumers to buy more. year, you willt see a lot more. that will push up the trade deficit even more. james in tokyo. thank you. program,g ahead on the the icing on the cake for the baking industry. more on that coming up later. and jpmorgan with a strong performance. when "asiaad to that edge" returns. ♪ .> breaking news an ipo is said to take place in everbright.r billionssaid to seek in hong kong dollars in shares sales. let's see what else is going on. positive news coming out
, and foreign aid had far exceeded our receipts. why did this payments deficit occur? dr. joan spero, senior vice-president, corporate affairs at american express. a payments deficit emerged in the late 1960s for three fundamental reasons. the u.s. economy was heating up due to the war in vietnam and due to expenditures on the gat society, and had inflaon at home. as the dollar became overvalued, we began to suck in more imports and we began to export less in relation to imports. so we went into "balance of trade" deficit, finally, in 1971. and the third factor is the capital outflows from the u.s., which continued throughout the 1960s for investment reasons and for financial flows. schoumacher: where a decade before there had been an international dollar shortage, now the world faced a dollar glut. this overwhelming supply of dollars piled up in the vaults of foreign central banks. these banks began to redeem dollars for american gold. between 1964 and 1966, u.s. gold reserves dropped by $2 billion. e u.s. really d not know what to do about the dollar in the late 1960s, and the europeans d
have been recommended by the imf with reduced short-term deficits and your obligations so that you can recover faster. a number of ministers, including the health minister, resigned in this includes a number of other social safety nets rather than this for a politician. and over the first time in 1944, they had a country wide vote with all these other things to put it to a vote. so even though it was more than 800% of gdp, a small group of people have invested all the money in mortgage-backed securities. and so we have two options in one is to cut the social safety net obligations and pay this back all the foreign creditors and the other option is to do a loan repayment program and while preserving our safety nets at home and most people had understandably been a part of the second one. and this includes a public health and it was essentially a fact. some indicators were slightly improved, like sweet quality and there was no increase in suicides, we just couldn't find anything among four different groups and there is only one blip and there was a sudden spike in emergency room visits.
and replace the savings so it wouldn't add to the deficit by increasing some government fees and perhaps requiring a higher contribution from federal workers for their retirement program and maybe about a 65 to $70 billion deal. it wouldn't be a deficit reduction deal, but it would, it would be an agreement on the level of discretionary spending or the appropriations bills for the next one or two years. >> host: and talk to us about scale. is the a large deal? is it a small deal if how does this kind of fit in our range of options? >> guest: this is not what you would call a grand bargain. it's a small deal. they deliberately set a pretty modest target because they thought something more ambitious wouldn't get done. so in the effort of finding some sort of an agreement for this year, this year's appropriations level and possibly it looks like next year's, they would just target that and see if they could reach an agreement on that, and that's kind of where we're headed. >> host: talking about the prospects for a budget deal this morning with the concord coalition's bob bixby. if you'd li
. >> what was the reason for the unexpected deficit here? are people saying this is likely to go on? >> the current account deficit was larger than expected -- it was expected to be quite small. the real reason was the weaker yen boosting the cost of energy imports and exports of cars and other products not keeping pace with that. japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be breaking the latest economic data from china. ."ming up next on "on the move ♪ the scene at the moment at the imperial palace in tokyo. we had some weaker than expected growth. 1.9% up.economists say a weaker yen just above the 103 level helping exporters. take a look at w
the double-doubles. washington, our chief washington correspondent. you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we will have several members on capitol hill and this is one of the questions they will have to answer. rollout, theo the website is operating better. they will make this point over and over. >> lawmakers actually have a deadline of their own to sign up for the affordable care act. how is that going? >> there is actually a different website. technically, they are members of a small business. that is the congress of the united states. they are operating off of the d.c. exchange. the deadline is december 23. december 9 is the deadline for mem
-ax cuts. this happened with the sequestration, a smart savings. reducing the deficit by closing wasteful tax loopholes and making job-creating investments to spur economic growth. as we close out this year, i hope republicans and democrats can put aside our differences and work together to produce results for the middle class. mr. president, the presiding officer has served in the house. i've served in the house. ii'm fortunate to serve here in the senate. mr. president, when i first came to this body, democrats had their focus on what they thought the foundation of democracy was. the republicans did the same. they thought they knew the right thing to do. but you know, mr. president, we could never get what we wanted. each side couldn't get what they thought was the way it should be. so what did we do? we worked together and came up with compromises to move legislation forward. let's get back to where we were. that's what this body needs. so, i hope we can put aside our differences and work together like we used to. it's also time for republicans to work with us instead of against us to
to replace the savings so it would not add to the deficit by increasing some government fees and perhaps requiring higher contributions and maybe a workers 60 52 $7 billion deal. it would be an agreement on the level of discretionary spending or the appropriations bills for the next two years. is this a large or small deal? caller: this is not what you would call a brain -- a grand bargain. they deliberately set it pretty modest target. finding some of sort of agreement for this year, this year's appropriations levels and possibly next year year's, they would target that. talking about the prospects of a budget deal this morning. you are welcome to join our conversation. democrats -- this weekend rob -- talked about the prospects of a budget yield and affording a government shutdown. [video clip] >> can you get an extension if you -- can you get an extension if it is paid for? >> that is $25 billion nobody was talking about until last week. it is an additional cost within this budget agreement. i'm glad to hear my colleagues say that it is not necessarily a sticking point. i think there
the short term cost savings is a long-term deficit. over hearing some of the clients they're worried about those kits. so i that we can't just talk about the cuts what are the long-term financial as well as social complications >> what are they. aging at home and services at home should be priority because their in fact, better for the fiscal satellite as well >> thank you. no further questions and a supervisor breed >> thank you for coming to speak with us. i want to ask you what you're thoughts are on around some people who are aging in homes but are electrocuted and sometimes that leads to challenges of desh and those kinds of things. what's our thoughts on other ways to not only allow people to imagine a in their homes but how do we effectively service them not just physically but some of the mental champs that happen >> i'm with a psych practitioner. i was at a meeting in the institute of learning they have 8 thousand calls monthly search and seizures with the very problems their lesson so many. we have to do some innovative outreach to help our search and seizures who are place b
is in the vine. it tells us if the vine is in a deficit or doing fine. >> with this, we can actually save water, which is an important thing. >> especially in california which seems like its been in remember. >> by eliminating water at the right times and by giving water at the right times, we can have those berries grow small. the smaller the berries, the buser the skin to juice ratio is. that means more robust, big, juicy wines. >> innovative technology also fine tunes the work at the crush pad. here, alias programs the optical sorter to choose grapes based upon a specific color. only the right ones. everything else gets dump here we notice the change almost overnight. the wine is only 5 or six days old. fresher, cleaner, more focused. it was we are going to check out a red wine ferm entation. >> what was sorted earlier? >> it looks look luke soup. >> they communicate with alias via wi-fi. >> if it gets too hot t will send me an alarm. fe fermentation team. >> i get a text and phone call. i have them at 2:00 in the morning sometimes. >> even the aging process it is technology. >> this was in
by friday's deadline. the plan doesn't significantly reduce the deficit or, indeed, replace the sequester budget cuts. what does it do? we'll get into that a little bit later. >>> meanwhile, 203 jobs created last month. nonfarm payroll showed the jobless rate down to 7%. the better than expected numbers increase the speculation that the fed might stop. don smith joins us for more. don, very good morning to you. i see on a reuters survey there are now four that expect december or january, five in january. quite a significant move from the survey in october. what are your own thoughts? why wouldn't you go next week if you were the fed? >> well, exactly. there's still so much uncertainty in the market about will they or won't they. yet the market thinks at some point in the next few months it is inevidenceable. i think why not get the tapering out of the way, the announcement in december, even if it's a preannouncement to take effect from january. i think the bond market reaction to the pretty strong payroll report on friday taught us quite a lot, actually. we didn't see very significant sel
of the structural deficit in the budget. it's not the result of over spending it's the formula that's used that discount the budget that's allocated for personnel. it has to do with having four attorneys with their salaries and the summation that they're at everyone is at mid point with having investigators who are very experienced in the soumgs their salaries are at mid point. that's the problem that i have it's not just the occ there are other departments but when you're a small department it's extremely problematic >> thank you. is there anything we can do? >> well - (laughter) the board of supervisors has the authority to amend the budget but also the - it is what it is my budget is what it is so - >> thank you. anything you further for director hicks. please call commission reports >> commission reports and commissioners president report. >> i had the privilege of watching part of the bad kid thing and it representative to me i know it represented the heart of the city and cohesive what we did for that little boy. we had a great celebration but nothing better than a kid who is b
responsibility. >> there is a difference between short-term deficits and long-term deficits. the short-term deficits were largely inherited by barack obama and we need to recognize that some level are understandable and and to make it very clear to try to get the economy growing and to try to bring unemployment down. and then he pivoted this structural deficit and that is what threatens that. >> it is not the debt that's on the balance sheet, but it's what off the balance sheet and he talked about three things. he talked about freezing a portion of discretionary spending, less than 20% of the federal budget for three years, you know, three years are better than one and especially since spending has increased 20% or more over the last two years. >> there are lots of holes in that and they have to put a truck through it and it does provide some constraints that would be there. and thirdly he came out for a fiscal commission and this includes other spending restraints and tax reform that will terminate or revenues and i think it's important that we do it this year and to act before are me
washington post" says it would roll back some of the cuts and take action to reduce the deficits. overall it may not be the grand bargain some were hoping for. negotiators have been trying to find common ground since october as part of the grooemted thagre end the government shutdown. >>> so south africa. the nation and the world gather to remember nelson mandela. sunday was a national day of prayer in south africa with millions paying their respects to the former president. the preparations are now under way for a memorial service that will bring dozens of world leaders, including president obama, to south africa starting today. robin kurnow is outside mandela's home this morning. you've just spoken to one of his closest confidants. what did she say? >> we are hearing for the first time what is going on inside this house behind me. the home where nelson mandela died. we have been seeing a lot of people coming outside in the past few days laying flowers, paying their respects. we understand according to african tradition, nelson mandela's wife is sitting on a mattress in the living room i
would push off demands for deficit cutting. the president has said the deficit should take a back seat to jobs right now. there are also tense negotiations over cutting hiking security fees. and lawmakers also talking about partially repealing the sequester spending cuts. proposals to extend jobless benefits for the long term unemployed have also hit a snag. the president says those benefits are critical for many families, and he pushed the gop on that issue this weekend. >> for many families, it can be the difference between hardship and catastrophe. last year alone, it lifted 2.5 million people out of poverty. and cushioned the blow for many more. but here's the thing. if members of congress don't act before they leave on their vacations, 1.3 million americans will lose this lifeline. >> did you hear that? there might have been a little shade there for republicans on the hill. they are giving themselves another long vacation starting friday. on the other hand, some conservatives now say opposing unemployment benefits is their way of helping the unemployed. >> i do support unemploymen
when federal employees have disproportionately contributed to the deficit reduction efforts to date. over $140 billion of the deficit reduction efforts over the last couple of years have come from federal employees. >> and you represent a lot thoefz federal employees, so is that a deal breaker for you? >> absolutely. you cannot be asking federal employees to bear the share of the burden that they're asking for here as part of an agreement when you're not asking, for example, agri businesses that get huge taxpayer subsidies to have a contribution toward the deal. so we should be replacing the sequester. i've had a piece of legislation in to do that for three years. we've tried to get a vote on it and have been denied. but as we do that, you can't take this out on just one segment of individuals. you've got to have equitiy in this. so there are lots of things that are still up in the air as part of this negotiation. >> including unemployment benefits. and i want to play the republican argument from senator rand paul against an extension. here it is. >> a do support unemployment benefi
this taken me through a deficit of one penalty. and things around before the break when an airplane equalised with a grey and the like. when the then came from mike schools that will also sport from the penalty spot like the captain predicted that this was sent off for a second to none. the weekend results so far look like this got one for two against time about how spoke back to when it come but finds that last attempt a call sometime on sunday at the coast was well like take on britain. stay with us sunday champion. are you. the years. sure sweetie it. the team he was sixteen this keeps the second set nineteen ski team in each district to its gdp who graciously decided to start we didn't eat by the sea. i don't like effects. it tells its own pc the year. as the week starting ukraine was in the midst of its worst political crisis since the orange revolution almost a decade ago. demonstrators laid siege to government buildings. this issue the debate on the klitschko called for the resignation of president viktor you know cool pics. the latter's refusal to sign a pro europe act to restrict the
exports and ports e likely to balance may be ry long run. have been runng maj deficits with japan foyears. good news in terms of getting cheaper goods, bad news in terms of a downward pressure on employment. still, in total, the gains from comparative advantage tend to be so larg that economis, unlike phaps ao workers orexti, are willing to wai r the long-term adjustments to work out. ofourse, if the other country is comting unfaiy, then that is another matter. on the football field, america liin politics,n, before the law, and in business. an even match on a level field seems to be the best way to decide the best team, the best candidate, or the best buy. but what happens when a foreign company, a company beyond the reach of american law, doesn't play fair? what happens when free trade isn't fair trade? the american steel industry. modern america -- its buildings, its bridges, its cars -- was built on steel. for almost 75 years, the industrial giants which ran american steel played by their own rules. lack of competition made price increases easy, easier than replacing old and inefficie
reportedly been stronger as they forecast a narrow trade deficit for the u.k.. more on the trade market in 30 minutes. ♪ >> this is "money moves," where we focus on innovative alternative investments. here are your bloomberg top headlines. we are following john paulson, making a comeback after a few years of wrongly invested, his investment fund is up 30% this year, according to people briefed on the returns. profitable positions on m&a are part of the strength. he is best known for making 15 billion dollars by betting against subprime in 2006 and 2007. the new american airlines has taken off, the merger between american and u.s. air officially closed today, creating the world's largest carrier. the new ceo says that flyer should not be worried about the changes. the employees, the airplanes, that is how this merger works. we need all of that. the networks are highly complementary. so, we put the networks together and we have everything we need. the supply is unchanged. if the supply is unchanged and demand remains constant, there should be no changes in price. rises in our business move a
raising taxes. >> yes. from a serious deficit to a positive balance of more than a billion in three years. >> so should that be an explicit goal of both parties in washington, d.c., to get back to a balanced budget? >> yes, to a degree. i'll refer back to defense, for example. at the federal government level, we need to balance our priorities. now, whether the budget in any given year is balanced in the sense that both governor pawlenty and i have to do it at the state level is another matter for discussion. what we -- in balancing priorities, then we have to balance what our expenditures are in terms of what is the return from investment. so an absolute commitment to a balanced budget in accountancy terms may not be in the interests of the united states at a given balance expenditures against revenues and then be reasonable about what we are willing to invest in terms of getting revenues, just to be against taxes per se means to be against our own national interest. >> speaking of balance, we did have a guy who ran for office saying he would take a balanced approach if president obama wo
deficits through the role in the appropriations committee. that becomes a really ugly conversation within the party. >> let me also share with you one of the latest as in louisiana. health care and the use of a familiar scene in louisiana, the theme of the said, let's watch the -- let's watch. >> there is a danger. many have warned that is coming. now they are in a hunt and headed for you. >> at least 80,000 people statewide would not be able to keep their current insurance because of the guttural health care overhaul. >> louisianians are struggling because of obamacare. she recently told reporters, "i am not concerned for anything." she cast the deciding vote for obama care in the first place. it is the brave new world of government incompetence that we will live in. guest: the last line for that is interesting because that is new. the brave new world of government incompetence. that is something the launch of the obamacare website has over republicans. up to it is no longer it is better for you. -- the government is better for you. these guys are incompetent buffoons. it is a attack tha
-- if you want to keep a deficit the way it is, you need to find some way to save money elsewhere if you're going to boost spending for the next two years which is what they're talking about. they're talking about cutting spending over a longer time frame in other areas. one area they might ask federal employees to pay a little more for their pension plans. another possible rumored area is they might hike the fees for airline security. now we don't know the exact details of these, and in some ways that's actually a good sign. the fact that a lot of these proposals aren't really leaking in their specifics means that the talks are still ongoing and that they're still productive and you know, a couple of people have said, once you start hearing these damaging leaks about oh, this isn't it or democrats are proposing this that's when things are falling apart. >> brad let me ask you, what are the chances of this deal as it's taking shape now passing both chambers, i'm particularly talking about the house, if you talk about fees that's easily construed as a tax. >> the house is a tricky part. t
't have any problem with higher taxes if it reflected in deficit reduction or reflected itself in debt reduction. >> that wouldn't be your first point. >> my first point would be to get a spirited leader elected. the last thing is, look at detroit. it can happen everyplace else. >> speak your mind. when we come back, let's say that santa has nothing on these guys, which makes me think, after what i'm about to tell you, they should rebrand red suits for all these nsa guys. :: >> think that was santa? it was an nsa guy dressed as santa. now the judge is furious. wants to give them all a lump of legal coal. >> they deserve an indictment because it's a violation of state law, and federal law and a violation of the constitution. local police, seeing what the nsa is getting away with by capturing every text and e-mail and phone call and recording it and copying is, are now beginning to do the same thing. the have for $400,000 -- i'm going to tell you at the end of this segment where it came from -- bought a device that look like a cell tower and attracts cell phone calls to it. they set up t
of congress be ineligible for re-election if they don't beat search benchmarks, like the deficit being beneath a certain percentage of the gdp. it's a lot. >> or certain congressman who get a lot of air time like paul ryan and that's a taste of what we'll see pretty soon. ronan, thanks for stopping by today. today's producer pick comes to us from associate producer kristen bukaria. a georgia court has ordered a man to pay up for breaking his promise to marry. he owes his one-time fiance 50,000 large even though the man claims he never officially popped the question. you can read more by heading to thomas roberts facebook page. you've got to put a ring on it, nice tune. we'll be right back. ♪ if yand you're talking toevere rheuyour rheumatologistike me, about trying or adding a biologic. this is humira, adalimumab. this is humira working to help relieve my pain. this is humira helping me through the twists and turns. this is humira helping to protect my joints from further damage. doctors have been prescribing humira for over ten years. humira works by targeting and helping to block a specifi
together solutions to fill in the gaps financially even at a little deficit reduction on top of that, things like raising the fees for airline companies pay for for airport security, that's on the revenue side and on the spending side, curbing federal retirement which some lawmakers don't like but it's a way to get some money. >> jon, thanks for the update. appreciate it very much. john harwood. ty, up to you. >> herbal life may be turning the tables on the hedge fund titan bill ackman. plus, this brings new meaning to the term ski out. how the middle class are getting squeezed out of the slopes this season. the power rundown is next. we'll tell you all about it. tdd# 1-800-345-2550 searching for trade ideas that spark your curiosity tdd# 1-800-345-2550 can take you in many directions. tdd# 1-800-345-2550 you read this. watch that. tdd# 1-800-345-2550 you look for what's next. tdd# 1-800-345-2550 at schwab, we can help turn inspiration into action tdd# 1-800-345-2550 boost your trading iq with the help of tdd# 1-800-345-2550 our live online workshops tdd# 1-800-345-2550 like identify
, smarter way to reduce our deficit. but because of sequestration, too many families and small businesses in new hampshire have felt firsthand the dramatic effects of us failing to do our job. with the potential budget agreement coming from senator murray and congressman ryan, we have an opportunity to reduce these impacts, to finally get to work replacing the harmful cuts from sequestration with a responsible plan that will grow our economy and create jobs. finally, it's my hope that a budget agreement also includes an extension of unemployment benefits for the millions of americans who lost their jobs through no fault of their own. now, in new hampshire, our unemployment rate is lower than the national average, and it has been consistently throughout this recession. but that doesn't help if you're in a household where the breadwinners are unemployed. that household has 100% unemployment rate. so despite the significant progress for our economy since the recession, the unemployment rate remains unacceptably high. and for millions of americans finding a job remains very difficult in this
a short problem. ist they ought to do now figure out a way to address that long-term deficit because it is rather painless in the immediate future. politicians, the future there will be nothing of significance that comes out of this deal. >> let's say they get a deal but lawmakers still push back. what does that say about what is happening in the sea -- in d.c.? >> if i was a good speller i would say it is his function. i don't spell very well. now the democrats -- and they need democratic votes to get this through the house -- the democrats are complaining federal workers having to pay their pensions. workers, someal of the republicans don't like the idea of replacing the sequester. they don't even like some of the user fees that are going to be imposed on airline passengers and customs. even the small stuff in today's climate draws a flag. do we need a clinton or christie in the white house? >> i'm not even sure the big c would do it right now. the parties are so divided. that is such polarization those in the middle get hit from both sides. we probably need to go through a crisis
the likelihood of a shutdown and another debt crisis in january. but it wouldn't have much deficit reduction. it would not go after any of the hot button items like social security or medicare, which need to be dealt with over the long-run. it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the benefits for the long-term unemployed. that is making up a record percentage of the people in this country who are unemployed. do you get the sense that congress is looking at the jobs report and saying, hey, maybe we shouldn't move the needle on that right now? >> i think that is difficult in part, because when you look at the size of this deal, we are only talking about $90
taxes, sales tax. we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -- >> 6.7 -- >> which is below, we got down to -- >> 7%. >> i don't know, yeah. anyway, you're at 6.7%, were you higher? i would think you'd always be below. >> unemployment went from 3.5% to 11.1%. >> where was the national average? >> 9%. >> never got above -- >> i think it was nine when i came -- >> maybe ten. >> i think it was nine when i came in. in the month of october, we generated private sector jobs, my good friend governor perry, only had 12,000 jobs. >> oh, you two guys go at each other. i see that a lot. that's a great rivalry. almost like a football -- >> he was number one. what do you want to be? i want to be number one. so i go after number one. >> what's the minimum wage? >> it's $7.67. >> is that a w
Search Results 0 to 31 of about 32 (some duplicates have been removed)